Pigeon pea, black gram prices retreat after hitting record high

The prices of black gram and pigeon peas faltered on 6 and 7 February after hitting the all-time highest on 5 February 2024.
The prices peaked at K3.5 million per tonne of black gram (Fair Average Quality) and K4.197 million per tonne of pigeon pea on 5 February. The prices slid to K3.44 5 million for black gram and K4.15 million for pigeon peas on 6 February and registered a further decline to K3.43 million for black gram and K4.105 million for pigeon peas.
The highest price of black gram was K3 million per tonne on 27 December 2023. The black gram price peaked at K3.5 million on 5 February.
Similarly, the pigeon pea price surged to K4.197 million per tonne five months after hitting a high of K4.15 million on 8 September 2023.
Meanwhile, the green gram (Shwe Wah) price also increased to K4,530 per viss on 5 February 2024 from K4,415 per viss on 4 February.
The FOB prices touched a high of US$1,035-1,055 per tonne of black gram (FAQ), $1,135-$1,155 for black gram (Special Quality), $1,200-$1,220 for pigeon pea, $800-$830 for green gram from central Myanmar regions and $890-$920 for green gram (Shwewah) on 5-7 February.
The FOB prices stood at $910-$930 per tonne of black gram (FAQ), $1,060-$1,080 for pigeon peas, $750-$780 for green gram from central Myanmar regions and $850-$880 for green gram (Shwewah) on 22-24 January 2024.
Some traders are storing them in the hope of raising prices in the future.
India forecast Myanmar’s black gram production is expected to rise. The price is likely to decline during the harvest time. Some traders pointed out that black gram prices will dip as India buys them after observing the market condition closely. — TWA/KK